Creating an Effective Bonus Program

Dave Pratt, CEO Emeritus of Ranch Management Consultants, explains the 7 rules for effective bonus programs.

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This is a great video. Very powerful and it hits all the main points. The only point I would add is that bonuses should be tied to net profits. Sure, they can’t control some of our decisions as leaders, but in my humble opinion, bonus are laid when the company has space to do so.